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Autumn 2017

BCCK GARDEN PARTY EVENT A BIG SUCCESS Annual Garden Party draws 350+ business leaders in Seoul

CHAMBER SUPPORTS UK MUSIC INDUSTRY TRADE MISSION BCCK presents on doing business in Korea to 17 British companies

A VISION FOR MOVING FORWARD IN KOREA Head of HR at SCB Korea, Jeremy Vallance, shares his story and what it means for him and the bank to move forward

WHAT WILL LEAD THE KOREAN ECONOMY IN THE NEXT 30 YEARS Learn about Saemangeum, the construction of The Center of Global Economic Cooperation


Platinum Members

BCCK

AUTUMN 2017

About Us Formed in 1977, the British Chamber of Commerce in Korea (BCCK) is a membership-based, non-profit organisation that represents the business interests of its members in Korea. The Chamber represents a broad spectrum of British, international and Korean companies, which all share significant commercial interests in the country. The Chamber has over 330 members of which approximately 25% are Korean. The Chamber also works together with the British government to promote British trade, commerce and investment in Korea and to encourage business development between Korean and British companies. About FOCUS FOCUS is a quarterly webzine distributed throughout the BCCK’s network both in the UK and Korea. Contributors British Embassy Seoul, Standard Chartered Bank Korea (Jeremy Vallance), Yoon & Lee (Byeong-ok Song), British Council Advertisers Alitalia Società Aerea Italiana, Denby Korea, Dulwich College Seoul, HKA, HSBC Korea, Kelly Services, Saemangeum Development and Investment Agency, Truefitt&Hill Photography Greg Samborski (www.gregsamborski.com) Design Netzone Communication

Patron Members FOR ADVERTISING & ARTICLE CONTRIBUTIONS BCCK Marketing & Communications Team marketing@bcck.or.kr, (+82) 2-6365-2307

Issue No. 03

Publisher: British Chamber of Commerce in Korea 14th Fl, The-K Twin Towers B-dong, 50, Jongro 1-gil, Jongro-gu, Seoul, Korea (+82) 2-6365-2300 www.bcck.or.kr


CONTENTS

7

6 36

Congratulatory Message 05 CEO's Message

Chamber Focus General Chamber News 06 BCCK Speaks at Hyundai Card Travel Library UK Special Event on Urban Regeneration
 07 BCCK Chevening Scholarship Application Open! 07 BCCK Holds Annual Platinum & Patron Dinner for Record Number of Members 08 BCCK Supports UK Music Industry Trade Mission to Korea 08 BCCK CEO Participates in 12th Foreign-Invested Companies Job Fair Inauguration Ceremony

Trade Services News 09 Trade Services News 10

Q3 Highlights

Events – Business

14

29

13 Chamber Hosts Breakfast Workshop on the Anti-corruption Law One Year On

25 Accessories in Korea, Shifting Toward Affordability and Personalisation

13 BCCK Hosts Breakfast Workshop on Employment Law Landscape

29 Saemangeum, The Bright Future of Korea

26 Korea’s Economy: Q3 2017

Events – Networking 14 Annual Garden Party Event a Big Success

Legal Focus

15 BCCK Co-hosts the 2017 Annual Commonwealth Chambers’ Networking Night

33 Korea Gearing Up for Electric Vehicles

15 BCCK & AMCHAM Hold Largest-ever Joint Golf Event

Lifestyle Focus

Upcoming BCCK Events

36 English-language Media in South Korea

16 Upcoming BCCK Events

UK-Korea Trade Focus 18 Three Recent News Stories in UK – Korea Trade

People Focus 20 Interview with Jeremy Vallance, Head of Human Resources at SCB Korea

12 Breakfast Workshop on Korean Tax Law Changes and their Impact

Market Focus

12 BCCK Hosts Breakfast Forum on Moon’s Economic Policy

23 Korea’s Retail Market: Land in Korea, Expand Across the Region

Member Focus 40 Member Stories 43 Member CSR Activities 47 New Members 48 Member Offers

Special Focus: UK/ Korea 2017–18 Creative Futures 51 UK/Korea 2017–18 Creative Futures


CEO'S MESSAGE

CEO'S MESSAGE

It is with great pleasure that I write a foreword for our Autumn Edition of FOCUS. The team and I have been working at the Chamber now for over 2 years now and as we launch new services, new publications and new events for our members, it is always exciting to see the way they contribute to the British and Korean business community and this is a chance to thank you for your support in allowing us to do this. The BCCK has grown substantially over the last two years to establish a lot of services for its members and has worked together with the British Embassy in Seoul to provide trade services for UK companies seeking to enter the Korean market as well. These achievements have come through the hard work of the team in the secretariat and the Executive Committee and the continued excellent support of our members.   Thus far 2017 has been a year within which we have augmented our services by beginning our Government Relations program and hired a Membership Manager whose job is to liaise directly with members in order to make sure that we have a feedback loop from our members to the secretariat – a vital link as we grow from

a smaller to a larger Chamber. Further to that, we are introducing a new member category for those seeking to support the Chamber further and adding more benefits to all the categories which we already have. This Christmas will be our 40th Anniversary and an opportunity to celebrate the creation of an organization by seven British businessmen in 1977 which has now grown to have more than 330 members and a wide range of services which support over 170 British businesses in Korea. We look forward to hosting you at this event.   On behalf of the team, I would like to thank you for your support throughout the last two years and for the support to come.

SEAN BLAKELEY BCCK CEO

BCCK FOCUS 5


CHAMBER FOCUS | GENERAL CHAMBER NEWS

BCCK Speaks at Hyundai Card Travel Library UK Special Event on Urban Regeneration On August 30, BCCK CEO, Sean Blakeley, as part of the UK Special event on urban regeneration hosted by Hyundai Card Travel Library, was invited to speak on the role of the Chamber and how it contributes to the growth of British culture in Korea and the regenerative aspects of sports, education and business in the UK. Highlighting the role of the Chamber in supporting its members, he explained how the BCCK’s services help to facilitate the growth of trade between the two countries and how its networking events, promotional advertising and sponsorship inform Korean people about various aspects of British culture. Sean pointed out: “Though our primary focus is on business-related activities, the work we do also helps promote British culture

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in Korea. Whether it’s through our events’ themes, drinks, food, music or sponsors, we tell our members and event guests about British culture.” Presenting together with the BCCK was Mr. Tom Chambers, owner of Bulldogs restaurant in Itaewon, Seoul. Tom gave a presentation on the different aspects of British pub culture, including their origin and food and also shared the story of the UK’s most famous craft beer, Brewdog. Tom served scotch eggs, and Brewdog Korea provided beer to all of the attendees. The Hyundai Card holders were able to gain a valuable insight into British culture, experience it first-hand and understand its role in regenerating an urban Britain.


CHAMBER FOCUS | GENERAL CHAMBER NEWS

Chenvening Scholarship Application Open! Familiar with Chevening Scholar ships? The scholarships are awarded to emerging leaders to help them pursue a one-year Master’s degree in any course of study at a UK university of the applicant’s choice. C evening scholars have the unique opportunity to network extensively, develop professionally and academically, and build lasting relationships in the UK. As part of our support for this excellent program, the BCCK proudly provides a scholarship for one successful applicant in order to support them in their journey

toward academic and professional success! Applications can be submitted between August 7, 2017 and November 7, 2017. Check out more information here. Preparing to apply for a Chevening Scholarship? Before applying for a Chevening Scholarship, you must have completed at least two years’ work experience which equates to 2,800 hours. But what counts as ‘work’ and how can you calculate your hours? Visit here to find out.

BCCK Holds Annual Platinum & Patron Dinner for Record Number of Members

The BCCK held its annual Platinum & Patron Dinner on September 22. Held at the British Ambassador’s Residence, the event was attended by BCCK CEO Sean Blakeley, British Ambassador Charles Hay, British Deputy Ambassador and Head of Mission Sue Kinoshita and C-level representatives of the BCCK’s Platinum and Patron members. The event featured

musicians from Seoul British Foreign School and a Glenfiddich whiskey tasting session from William Grant & Sons Korea. Interested in becoming our Platinum or Patron member? Find out more about membership here.

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CHAMBER FOCUS | GENERAL CHAMBER NEWS

BCCK Supports UK Music Industry Trade Mission to Korea

The BCCK partnered with the Association of Independent Music(AIM), the British Phonographic

Industry (BPI) and the Department for International Trade (DIT) to support a UK Music industry trade mission’s visit to Korea. A total of 17 companies from the British music industry visited Korea for five days from September 24 to October 1, to meet with stakeholders in the country as well as to attend both MU:CON and Zandari Festa. BCCK CEO, Sean Blakeley, presented at their opening event, providing an overview of the Korean market and some of the opportunities and challenges of doing business in Korea.

BCCK CEO Participates in 12th Foreign-Invested Companies Job Fair Inauguration Ceremony

This photograph was taken from Yonhap News article

BCCK CEO Sean Blakeley participated in the inauguration ceremony of the 12th Foreign-Invested Companies Job Fair hosted by the Ministry of Trade, Industry and Energy (MOTIE) and Korea TradeInvestment Promotion Agency (KOTRA). The Job Fair was held on October 12 and 13 at COEX, drawing 136 foreign-invested companies, including 58

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from the EU. Amongst the participants were BCCK members Robert Walters and GSK. It is expected that participating companies will recruit 500 applicants onsite and approximately 3,300 by next year. You can read the full article in Korean here.


CHAMBER FOCUS | TRADE SERVICES NEWS

British Brands Continue to Make Inroads into Korea We have witnessed a continuous entry of new UK brands in previous quarters this year, and Q3 was no exception. Hunter, a UK fashion accessories company, will soon be available to Korean consumers, as it officially announced its launch in the market. Gtech, a UK vacuum cleaners and gardening equipment brand, also launched

exclusively on Hyundai Home Shopping, one of the major home shopping platforms in Korea. As can be seen in these success stories, if you are a British brand seeking to enter the Korean market, please do get in touch with the BCCK to discuss how we can help you.

The BCCK Can Help You Find UK Brands to Work With! The BCCK has been helping Korean companies to find UK brands in fashion, F&B, lifestyle, accessories, and many more that may be interested in working with the Korean companies to enter the Korean market. We have supported major e-commerce platforms as well as large- and medium-sized distributors and agents who

are already carrying international brands and looking to augment their portfolio by adding more British brands. If you are based in Korea and would like to potentially work with British brands, do get in touch with us at trade@ bcck.or.kr to discuss how we can help you.

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CHAMBER FOCUS | TRADE SERVICES NEWS

Q3 Highlights The BCCK assisted David Collins Studio, the leading UK architects and designers for luxury interior design, with identifying potential new partners in the Korean market. David Collins Studio had successfully completed the entire interior design of a first Le Méridien hotel in Korea, and with this proven success, the Studio approached the BCCK to expand its customer base in the market. The BCCK identified a number of major Korean companies in a few key sectors and arranged seniorlevel meetings for David Collins Studio to navigate potential partnerships.

The BCCK assisted David Collins Studio, the leading UK architects and designers for luxury interior design, with identifying potential new partners in the Korean market. David Collins Studio had successfully completed the entire interior design of a first Le Méridien hotel in Korea, and with this proven success, the Studio approached the BCCK to expand its customer base in the market. The BCCK identified a number of major Korean companies in a few key sectors and arranged senior-level meetings for David Collins Studio to navigate potential partnerships.

The BCCK assisted Lulu Guinness, a British designer handbags brand, with finding a potential partner to enter the Korean market. The BCCK arranged meetings with Korean companies interested in

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the UK brand, which enabled Lulu Guinness to better understand the market and trends and to discuss potential partnerships. “We drew on BCCK’s extensive knowledge of the market to help find a suitable partner for Korea. We were impressed by the thorough research carried out by their team and their incredible professionalism during meetings with potential partners. Having a bilingual point of contact on the ground was invaluable,” said Helena Pielak, International Business Development Manager of Lulu Guinness.

The BCCK partnered with the Association of Independent Music (AIM), the British Phonographic Industry (BPI) and the Department for International Trade (DIT) to support a UK Music industry trade mission’s visit to Korea. A total of 17 companies from the British music industry visited Korea for five days from September 24 to October 1, to meet with stakeholders in the country as well as to attend both MU:CON and Zandari Festa. The BCCK helped organise the logistics of the mission, and liaised with invited speakers and other attendees to ensure that the mission would allow its participants to deepen their understanding of the Korean music industry and to network with relevant industry stakeholders. BCCK CEO, Sean Blakeley, presented at their opening event, providing an overview of the Korean market and some of the opportunities and challenges of doing business in Korea.


Advertise with the BCCK E-mail | The quickest way to approach high level members of Korea’s domestic and multi-national companies is through direct emails to the BCCK’s mailing list. Website | Our website is the onestop-shop for information about our events and activities. We offer opportunities to our members to advertise through banners or BCCK member offers. SNS | Need to get a message out about an upcoming event, recruitment offer, press release, or CSR success? Utilise our SNS network (Facebook, Linkedin, Instagram, Twitter and Google+) to to spread the message. Webzine | We offer advertising opportunities through our quarterly webzine, FOCUS. The webzine is offered through our website and sent out to our 3,500+ network of business contacts in Korea and the UK. Directory | The BCCK Membership Directory is the one place you can find out all about our members. Offered in print and online, we offer advertising space to help get your products and services out to a broader audience.

Contact us today to learn more at: E-mail: marketing@bcck.or.kr Phone: (+82) 2-6365-2307


CHAMBER FOCUS | EVENTS - BUSINESS

Breakfast Workshop on Korean Tax Law Changes and their Impact

The BCCK hosted a breakfast workshop on September 4 on the recent tax reform in Korea and its likely impact on businesses and individual tax positions. Featuring a

presentation and Q&A session from Samil PwC partners Sang-do Lee and Robert Browell, the workshop was held at the Grand Hyatt Seoul.

BCCK Hosts Breakfast Forum on Moon’s Economic Policy

On September 14, the BCCK hosted a Breakfast Forum focused on providing an insight on newly elected President Moon’s economic policy and the impact it will bring to Korea’s economic and financial markets. The Forum was moderated by Bryan Harris, the Seoul Bureau Chief of the Financial Times, and included presentations and discussions from Chonghoon Park, Head of Research at Standard Chartered Bank Korea and Byoung

12 British Chamber of Commerce in Korea

Joo Kim, PhD, Chief Executive Partner from Kim, Lee & Partners (KL&P), who also fielded questions from the audience. The event was held at the Conrad Seoul. Mr. ChongHoon Park’s presentation from the event can be downloaded on the BCCK website.


CHAMBER FOCUS | EVENTS - BUSINESS

Chamber Hosts Breakfast Workshop on the Anti-Corruption Law One Year On

The BCCK hosted a breakfast workshop on September 27, with Mr. Chan Sik Ahn, a Partner at HMP Law, about the updates of the Kim Youngran Law, approximately one year since its implementation. The workshop reviewed court rulings and administrative interpretations related to the law and changes which may be expected to emerge

under the new Moon government. The workshop was held at the Millennium Seoul Hilton. Mr. Chan Sik Ahn’s presentation from the event can be downloaded on the BCCK website.

BCCK Hosts Breakfast Workshop on Employment Law Landscape The BCCK hosted a breakfast workshop on October 18 with Mr. Christopher Mandel and Mr. Daiwon Chung of Yulchon LLC regarding the potential reforms of Korea’s labour, employment laws and regulations under President Moon. The workshop reviewed labour relations-related changes in the law which may be expected to emerge under the new administration. The workshop was held at the Four Seasons Hotel Seoul. Mr. Christopher Mandel’s presentation from the event can be downloaded on the BCCK website.

BCCK FOCUS 13


CHAMBER FOCUS | EVENTS - NETWORKING

Annual Garden Party Event a Big Success

The BCCK held its annual Garden Party at the British Embassy Garden on September 7. The event was attended by 350 business leaders from diverse industries. The event celebrated the growth the Chamber has achieved under the two-year leadership of its CEO, Sean Blakeley.

The event, sponsored by Jaguar Land Rover and Seoul Foreign School, showcased a range of British cocktails, cuisine and wine, and featured music from a British DJ. The drinks were sponsored by Snow Leopard, Macallan, Brewdog, Bernini and Dongwon Wineplus. The buffet was provided by the Grand Hilton, featuring British cuisine such as fish and chips, scotch eggs and many others. Charles Hay, the British Ambassador to South Korea, acknowledged the Chamber’s growth: “The BCCK is the highest-performing British Chamber in the world for helping UK companies to enter this foreign market.” Daniel Fertig, Vice Chairman and Treasurer of the Chamber also noted: “We have grown a 14 British Chamber of Commerce in Korea

lot over the last two years and we look forward to growing further, with even more services for our members.”

Sean Blakeley, the BCCK’s CEO, on what was also his second-year anniversary in the role, said: “The team at the BCCK has worked very hard to develop the Chamber into an organisation which provides a great service to its members with Government Relations being the latest service to be added.” Since Blakeley was appointed, the Chamber has grown its membership to 330, introduced marketing, government relations and trade services for members and increased the frequency of events from 15 in 2015 to 50+ in 2017.   A lucky draw was held towards the end of the event and prizes were given out from the event’s product sponsors. Lucky Draw prizes included a Jaguar Land Rover Korea’s test driving voucher, Jane Packer London’s cologne, a bottle of Macallan 18 years, Dearment flowers, Brewdog beer and others.


BCCK Co-hosts the 2017 Annual Commonwealth Chambers’ Networking Night

The BCCK, along with the Australian, New Zealand, Canadian, Indian, and South African Chambers in Korea, co-hosted the 2017 Annual Commonwealth Chambers’ Networking Night on September 28 at Namsan I & II in the Grand Hyatt Seoul. Sponsored

by Seoul Foreign School and Dulwich College Seoul and featuring raffle prizes from British brands such as Jo Malone London, LUSH, Denby and the Contents Shop, the event drew 300 people.

BCCK & AMCHAM Hold Largest-ever Joint Golf Event On October 20, the BCCK – AMCHAM Golf Outing was held at the Lake Hills Yongin Country Club. This was the largest golfing event held by the BCCK with 56 players (14 teams) from the British and American community participating. After some excellent rounds of golf, there were some welcoming remarks from Mr. Sukhan Yoon, President of Lake Hills Golf & Resort Group, and a meet and greet with SBS PGA Pro Golfer, Soonwung Ham. This year, great gifts from Diageo Korea, Jo Malone London and Lush were given to a few fortunate players during the lucky draw to close the

event. The BCCK looks forward to hosting the event again next year.

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CHAMBER FOCUS | UPCOMING EVENTS

Upcoming BCCK Events November 16 Beers with the BCCK

Wanted to stop by the BCCK office, but never had the time? Now you have a reason to! On November 12, the BCCK is holding a very special ‘open house’ networking event at its office in Gwangwhamun. The attendees will have the opportunity to get to know more about the Chamber and the Chamber staff. Beer and light food will be available. Members and nonmembers welcome! Register Here!

November 22

Breakfast Workshop on Recent Trends and Highlights in Competition Law Enforcement in Korea The Chamber is holding a breakfast workshop which will cover enforcement policy and focus by the competition agency (KFTC) for the last six months after the new administration launched and highlight criminal enforcement by the Prosecutor's office and notable decisions rendered by the courts in recent months. The event will be led by Bryan E. Hopkins and Yong Seok Ahn from Lee&Ko. Register Here!

December 1

BCCK Christmas Lunch 2017 The BCCK is holding its 40th Anniversary Christmas Lunch on Friday, December 1 at the Four Seasons Hotel Grand Ballroom. The lunch will be attended by 450 guests from the Korean, British and foreign communities and raise funds which will contribute to the donations we give to our good causes: The Myongdo Welfare Centre which supports the mentally and physically disabled; Angel’s Haven which operates nurseries, youth and senior welfare centres; and the BCCK Chevening Scholarship. We will have a traditional Christmas lunch menu with music from the Dulwich College Seoul School Choir, the Salvation Army Band, and both a band and DJ. His Excellency Ambassador Charles Hay will be in attendance and will give welcome remarks and a toast. Come and enjoy a fantastic day with great people and have the opportunity to win lots of fantastic raffle prizes and take part in our silent and live auctions! Register Here!

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UK-KOREA TRADE FOCUS

Three Recent News Stories in UK – Korea Trade BCCK Editorial Staff

1. HKA launches new brand in Seoul HKA, a global leader in consultancy for construction, manufacturing, process and technology industries, launched its new brand at a reception held at the British Ambassador’s Residence in Seoul on the 26th of September this year. Headquartered in the UK, HKA has been providing specialist advice to Korea’s leading international EPC contractors on complex projects throughout the Asia-Pacific and Middle East regions, spanning major infrastructure, oil and gas, and power generation facilities. Recently, HKA has amalgamated six brands (Hill International’s Construction Claims & Consulting Group, Knowles, HillPCI Group, Mclachlan L i s t e r, B i n n i n g t o n Copeland & Associates, Cardogans) into one business, incorporating an international group of specialist advisory, consulting and expert engineering firms to create a globally Benjamin Highfield, HKA Partner, addresses guests at the Seoul brand i n te g r a te d s e r v i c e launch reception offering. The launch hosted over 50 attendees from Korea’s leading operators, international contractors, manufacturers, law firms, banks and trade associations, including HKA’s special guest speaker Mike Welch, Head

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of Trade & Investment of the Department for International Trade. HKA expressed that they are looking forward to building existing relationships as well as developing new business in the Korean market on major project opportunities.

Distinguished guests at HKA’s brand launch reception at the British Ambassador’s residence in Seoul, Korea

HKA’s team with Mike Welch, Head of UK Trade & Investment, Department for International Trade at the British Embassy Seoul. Pictured (L to R): Rezani Ramli, Reza Sabetnia, Mike Welch, Peter Atkinson, Kim Yon Soo, Mark Lench and Arnold Koh


2. British beauty brands successfully utilising diverse retail channels

3. British automobiles accelerate in the domestic market

Models Own, a British nail and makeup brand, entered the Korean market earlier this year, and their products are now available in Watsons, one of the major health and beauty retail stores, in Korea.

The market share of British automobiles in Korea is steadfastly growing as the popularity of foreign cars in the country boosts sales numbers for British car exporters. Approximately 10% of the total car imports in Korea last year were British, which ranks 3rd just behind Germany and Japan.

Through a successful initial reception in the market, Models Own has expanded its presence in the market and recently launched its products on a leading online cosmetics store iBeautyLab in August. iBeautyLab is a rapidly growing e-commerce platform with more than 300,000 registered members and over 100,000 followers. Similarly, numerous British beauty brands such as Physiogel and John Frieda, have successfully entered the market through H&B stores and online shopping malls. These two retail channels, catering to evergrowing single-person households, are gaining popularity due to their accessibility and convenience. Single-person households now account for 35% of Korea’s population, most of them being millennials who take up 40% of the total population. Recognising the consumption patterns of this demographic group is proving to be key to the success of entering and penetrating the Korean beauty market.

The UK previously ranked 4th in terms of the number of units sold among foreign car brands, but recently it has taken over the US to become the 3rd largest exporter of foreign cars in the Korean market. British automobiles have shown steadfast, gradual growth in sales over the past five years, selling more than 23,000 units last year. There are currently seven British brands in the market: Jaguar Land Rover, MINI, Lotus, McLaren, Aston Martin, Bentley, and Rolls Royce. Recognising the positive trend and room for further growth, the British Embassy Seoul launched the “Automotive is GREAT” campaign, promoting trade in the automotive industry between the UK and Korea. The event, held on October 18, showcased the UK’s strength in automotive production, design and technology, while highlighting future trends such as low carbon, autonomous vehicles.

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PEOPLE FOCUS

Interview with Jeremy Vallance, Head of Human Resources at SCB Korea BCCK Editorial Staff

1. Can you elaborate on your role at Standard Chartered in Korea? I am the Head of Human Resources, responsible for all people-related issues across the Bank. This includes learning and development, employee relations and conduct matters, compensation and benefits as well as recruitment and culture. As a member of the Executive Committee of the Bank, I also work closely with the Chief Executive Officer and management team to drive the performance of the Bank and provide a bridge between the local management, Group and Regional stakeholders. 2. What drove your decision to come to Korea? Before coming to Korea, I was in a global role in Singapore and was aware that Korea was a big part of the Group but at the same time I knew very little about the country. When the opportunity came up, the Group Head of Human Resources asked if I would be interested in moving to Korea and after a short visit, I decided it would be a fantastic personal

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and professional experience to work here. In the 2 ½ years I have been in Korea, I have not been disappointed and can honestly say it is the best job I have had in my 26-year career! 3. How do you think your experience shaped your leadership style as Head of HR at Standard Chartered in Korea? As a leader, I have always believed in the power of the team and allowing individuals to have autonomy without being told what to do all the time. In many cases, people on the team are the real experts. So when I came to Korea I had to rely heavily on the people in my team, as they are the ones who know a lot more about the Korean business and culture than I do! My leadership challenge has been better understanding the unique environment in Korea so I can provide some strategic direction as well as bringing in some external perspective to ensure we continue to differentiate ourselves as a global, hybrid Bank.


4. What do you think is different about Korea’s HR system compared to that of other countries (the UK, for example)? There are many aspects of HR in Korea that are different from any other country in the world. For example, in other countries, employees tend to move jobs much more often, so HR departments spend a lot of time hiring and working on employee engagement initiatives to retain talent. In Korea,

people spend most of their career with one or two organizations so we are more focused on developing careers and providing learning opportunities for people to enhance their skills. Another big difference in western organizations is that they have flatter organizational structures, so hierarchy is not as important as they are in Korea. We also do not have Korean titles which make life even more complicated here!

Standard Chartered ‘People and prosperity’

I thought life was over – I was wrong When an accident left him badly injured, Jeremy Vallance feared he’d no longer be able to support his family

The day began day like any other for Jeremy, but in the blink of an eye his world changed. Rushed to hospital after a serious cycling accident, Jeremy was told he might not make it through the night. Against the odds he survived, but his life would never be the same again. A husband and father, Jeremy worried about supporting his family, as he faced the prospect of lifelong paralysis. But with the support of his family, friends and colleagues, Jeremy was determined to change his fate. Click the above video to watch his inspiring story.

5. You were involved in a very serious cycling accident which you have since recovered from but what have been the biggest changes since this accident?

After the accident, I have very little feeling in my arms and hands, so I have to rely on other people to help me. As someone who has always been very independent, asking for help is sometimes more

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PEOPLE FOCUS

difficult than struggling on my own. This has been an important lesson for me that I would encourage everyone to learn. We will all experience difficult times through life and career…there is nothing wrong with admitting you need help and taking time out to make sure you remain fit and healthy. Another issue is that I cannot move my head and I am always looking at the ground rather than the sky…I have become an expert in other people’s footwear! 6. What is your vision for Standard Charted in Korea moving forward? Under the leadership of our current CEO’s, JB’s (Jongbok Park, 박종복), we have been able to return the franchise to profit and become one of the most important countries within GCNA (Greater China and North Asia), so everyone should take a lot of pride for all the effort and passion that has made that happen. However, the business outlook remains challenging, so we have to continue to invest in products and services that differentiate us. The future of banking is changing rapidly, and we have

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all read about increased digitalization and the rise of the online banks. Technology is an area we need to continue to invest in to be able to keep up with the local banks but at the end of the day our people are as much a differentiator as our products, and I truly hope we become the Human Bank that successfully combines the best elements from our local and global history. 7. You have recently become an Executive Committee member of the BCCK. What do you expect to achieve at/with the Chamber? This is a relatively new experience for me but as a UK listed company we are an important part of the British business community in Korea. One area the BCCK spends a lot of time on is market entry and helping British brands and businesses understand what it is like to operate in Korea. They are also a non-profit organization and do a lot of work for charity and host a number of fun events throughout the year to raise money for local good causes.


MARKET FOCUS | BCCK CHAMBER BLOG

Korea’s Retail Market: Land in Korea, Expand Across the Region BCCK Editorial Staff

Korea has Asia-Pacific’s third largest retail market, set to be worth GBP 364bn by 2018 of which over GBP 25bn will be made up of e-commerce. Rising disposable incomes, the entry of international retail chains, liberal retail policies, and a strong online shopping infrastructure are contributing to the strong growth of the market. A trend leader and regional influencer in retail, Korea is an effective testing ground for foreign brands to enter the wider Asian market. British retail brands – particularly fashion, accessories, F&B and beauty products – are viewed as being of high quality and enjoy a strong reputation among Korean consumers, which gives them the edge over other international competitors seeking to break into this exciting market. The dramatic rise of mobile commerce In 2011, the majority of e-commerce retail sales were made through PCs, but by 2017 more than half of all sales take place through mobile devices. Sales of clothes and fashion-related goods, for example, made up 12.6% of the m-commerce market in 2015. KakaoTalk, Korea’s leading instant messaging

application with a more than 90% market share, has very quickly become a major player in this space through its service “Kakao Gift,” providing consumers with a quick and easy way to purchase and mail gifts (ranging from clothing and accessories to food). Such is their success, that British brand Burberry, for example, has partnered with Kakao and is actively using the application to market its products. Other major brands in the fashion space such as Calvin Klein have also jumped aboard and sell their products through the platform. Rise of online to offline (O2O) While established offline retailers in recent years have moved to open up online stores to tap into the growing online retail market, some retailers are now going the other way. For example, in home shopping, a GBP 10bn market, retailers have developed a hybrid on-offline experience to meet this new demand by making their products available through e- and m-commerce platforms and offline stores as well as their TV channel. In other cases, brands such as StyleNanda, initially established as a purely

BCCK FOCUS 25


MARKET FOCUS | BCCK CHAMBER BLOG

online fashion retailer, has now moved to establish offline stores with which to engage their consumers. UK companies looking to enter the market should seek partners in Korea with both online and offline channel experience as the multichannel approach is key to succeeding in the market. Rise in private label products Consumers in Korea are known to be very brandconscious and demand that retailers stock the international brands that are in-trend. Recently, however, major retailers such as E-mart and Lotte Mart have begun to focus on another facet of the Korean consumer base – its nationalistic tendency to buy Korea-made, Korea-adapted products and as such have begun to improve their own product development and private labelling. E-mart, for example, launched its premium PB brand, ‘Peacock’ in 2013 and now has over 1,000 products in its shelves. Its competitor Lotte Mart has also invested in this area and offers its customers over 13,000 PB products; sales from these make up 27% of the company’s total revenue. This all presents an opportunity for UK manufacturers, particularly in the fashion and F&B spaces, to approach retailers in Korea looking to contract quality manufacturing services or products which they cannot replicate or source themselves.

26 British Chamber of Commerce in Korea

Korea: A test market for expansion into Asia Korea is currently viewed as a “test market” for foreign retail brands aiming to enter the wider Asian market, for good reason. According to Futurebrand’s 2014-2015 Country Brand Index, Korea ranked third among Asian countries, after Japan and Singapore, in terms of its national brand power. There is no doubt that the popularity of Korean TV, cinema and K-pop culture has boosted the appeal of ‘what’s popular in Korea’ into wider Asia. More and more international brands are eyeing Korean celebrities and enlisting them as Asian brand ambassadors to reach a broader base of consumers in Asia, particularly Chinese consumers who are big followers of K-pop music and culture. Chinese tourists are the biggest foreign spenders in Korea, with an average tourist spending around GBP 1,531 on shopping – six times that of a Japanese tourist. With this in mind, UK brands in the retail space should consider Korea as a springboard to move on to the wider Asian market. Learn more about Korea’s Retail sector and our market-entry services by contacting our Retail sector specialist here.


Accessories in Korea: Shifting Toward Affordability and Personalisation BCCK Editorial Staff

Whether it is through their jewelry or a leather iPhone case, Korean people love to accessorise themselves and their products, and this tendency to do so has created a fashion accessory market worth over GBP 2bn. Visible across all segments of the market, from mass to luxury, men to women and young to old, Korean consumers are seeking to differentiate themselves through accessorising. This demand creates an opportunity for British companies in this space. The rise in demand for affordable and personalized jewelry The consumer base for jewelry brands in Korea has diversified from that of the traditional wealthy middle-aged to include eager-to-spend consumers in their 20s and 30s. Non-traditional and focused on affordable luxury, the younger generation is happy to spend on items made of slightly inexpensive material such as leather, glass and metal alloys if the pieces they buy are on-trend and adaptable to reflect their personal identity. Keen to buy items such as friendship rings, bracelets and birthstones with selectable colours, consumers are purchasing more personalized pieces at lower prices. Affordable jewelry brands such as Carat London and Monica Vinader have already launched in Korea and are performing well. Other UK brands in the jewelry space with similar competitive pricing and bespoke servicing should take note of this market. ‘Masstige’ bags are back The demand for affordable luxury is also evidenced in the rebirth of the Masstige (prestige for the masses) bag. Tapping into the demand from

younger consumers who favor purchasing multiple reasonably-priced and good-quality bags, which are uniquely-designed, personalized and usable for particular occasions, over just buying one bag, the masstige bag has proven a huge hit in Korea. UK brand, Anya Hindmarch, who has partnered with Shinsegae International, is a good example of this, as its bespoke design service, by allowing consumers to create their own bag, has helped drive their success in the market. UK companies that offer affordable, quality bags should definitely be looking at opportunities in Korea. Male accessories are all the rage Korean retailors are increasingly curating select shops carrying men’s hats, belts, wallets and other accessories. LF, one of Korea’s major fashion houses for example, has opened a men’s select shop called ‘Raum Men’ which stocks a number of British accessory brands such as Northskull. Shinsegae International’s equivalent store, ‘Man on the Boon’, also carries men-only products, 40% of which are imported brands and 10% of which are accessories. Of the accessories on sale, luxury leather accessories have been particularly popular with such products are the Berluti leather iPhone case completely selling out in 2016. UK companies with unisex or male-focused accessories should consider approaching Korean retailors who are looking to add such products to their stores. To learn more about the BCCK’s market entry services, please contact us at trade@bcck.or.kr.

BCCK FOCUS 27


MARKET FOCUS

Korea’s Economy: Q3 2017 British Embassy Seoul

The British Embassy Seoul releases economic data concerning the Korean economy on an annual basis. This data includes updates on macroeconomic figures along with an overview of trends and issues that are affecting the Korean economy. SUMMARY • GDP growth slowed from 2.9% yoy in Q1 to 2.7% yoy in Q2. - Domestic consumption increased marginally in Q2, but continues to be constrained by high household debt. - Exports were down 0.1% qoq in Q2, partly reflecting weakening global demand. • The Bank of Korea revised its 2017 growth forecast upwards from 2.8% to 3% though experts think growth in the 2.7%-2.9% range is more likely. •T  he benchmark interest rate remained at 1.25% for the 16th consecutive month. Inflation slowed to 2.1%. • The National Assembly passed a KRW 11.2 trillion (£7.7bn, 0.6% of GDP) supplementary budget in July to support policies to boost economic growth. • Korean and US trade representatives agree to amend KORUS. Macro-economy

UK

Nominal GDP (USD,’16, est)

Korea

Trade & Investment

Total

Growth

12,649.9

1,404.4

Total goods exports (Sept)

55.1

35

1.8

2.7

Total goods imports (Sept)

41.7

22.6

40,412

27,633

Goods exports to UK (Sept)

414 mil

34.1

Annual inflation rate (%,’16)

0.7

1

Goods imports from UK(Sept)

523 mil

66.2

Unemployment rate (%,‘16)

4.9

3.6

Korea’s total FDI (Q317)

13.6

9.1

-5.9

7.7

Korea’s FDI from UK

Real annual GDP Growth (%,’16) GDP per capita (USD,16)

Current account balance (% of GDP,16)

(IMF, Korean Ministry of Trade, USD,bn %)

GDP Growth Rate (OECD, %)

GDP Growth (BoK, %)

8

6

6

5

4

-2

3 07

09

11

13

15

16

2 1

-4 -6

YoY

4

2 0

QoQ

World

28 British Chamber of Commerce in Korea

Korea

UK

0

'11Q1

'12Q1

'13Q1

'14Q1

'15Q1

'16Q1

'17Q1


MAIN ECONOMIC TRENDS Growth pace is weakening The economy continues to grow, but the pace of expansion is weakening. In quarter 2 GDP expanded 0.6% qoq, slowing from a 1.1% qoq increase in quarter 1. On an annual basis, GDP increased 2.7% in the second quarter, down from 2.9% in the first quarter. Chart 1: GDP Growth Outlook (Bank of Korea, %) 4

Outlook 3 2 1

Inflation has moderated to 2.1% in September from 2.5% in August. Market experts expect a rate increase later this year. This is in line with comments made by the Governor of the Bank of Korea who said a rate hike would be considered if robust export growth and recovery in private consumption continued.

Headline figures provide a mixed picture for growth. Domestic demand: Private and government consumption both improved, increasing 0.9% and 1.1% qoq respectively in Q2. However, domestic consumption will continue to be constrained by high household debt and rising geopolitical risks on the Korean peninsula. Household debt as a proportion of disposable income increased to nearly 170% in 2015 from 163% in 2015. This ratio is higher than the UK (150%), Japan (135%) and the USA (112%).

0

15

16

17

18

Domestic consumption contribution (%p) Exports contribution(%p) GDP Growth rates (vov, %)

In July the Korean National Assembly passed the 2017 supplementary budget, worth KRW 11.2 trillion (£7.7bn, 0.6% of GDP). The government plans to use 70% of the extra budget in Q3. The extra budget is estimated to contribute 0.2pp to 2.8% yoy growth in 2017 by creating more jobs. The Bank of Korea has revised its growth forecast for 2017 upwards from 2.8% to 3.0%. However, this is optimistic in the eyes of many local think-tanks and foreign investment banks. The consensus forecast among them is growth of around 2.7-2.9% (LG Economic Research Institute 2.8%, Barclays and Citi 2.9% and HSBC and Nomura 2.7%).

Exports: The disappointing GDP growth figures partly reflect weak global demand for Korean exports – the traditional growth contributor. Exports declined 3% qoq (-0.1% yoy) in Q2. However, September’s goods export growth increased by 35% yoy, mainly due to very strong electronics, chemicals, machinery and automobile exports and high export prices. Export value (USD 55.1 billion) and trade surplus (USD 13.8 billion) also posted record highs in September. By product, exports in all four of Korea’s key export items grew: electronics (35.9%), chemicals (39.2%), machinery (34.1%), and automobiles (74.5%).

The Bank of Korea kept its benchmark interest rate at 1.25% for the 16th consecutive month in October.

BCCK FOCUS 29


MARKET FOCUS < Table 1: Septemberâ&#x20AC;&#x2122;s exports,%, Customs basis> Destination

Share (2016,%)

China

Growth (yoy, %) 2016

25.1

22.7

-9.3

Electronics

ASEAN

15

39.9

-0.4

US

13.4

32.8

EU

9.4

40.8

2016

34.3

35.9

-5.9

Chemicals

12.1

39.2

0.5

-4.8

Machinery

8.8

34.1

-2.9

-3.1

Automobiles

8.2

74.5

-11.3

Re-negotiation of the KORUS FTA Korean Minister for Trade Kim Hyunchong and the US Trade Representative Robert Lighthizer led the second special session of the joint committee for the Chart 2: Korea-US Trade (Korea International Trade Association, %, US billion) KORUS FTA implementtion

70 60 50 40 30 20 10 2010

2011

Korea's export

2012

2013

2014

Korea's import

30 British Chamber of Commerce in Korea

Growth (yoy, %) Total

TRADE POLICY

0

Share (2016,%)

Sept

Output: Industrial output slowed sharply while service sector output continued to improve. Manufacturing sector output decreased 0.2% yoy in Q2, down from 2.1% yoy growth in Q1. Services sector output grew 0.8% yoy in Q2 (0.2% in Q1), supported by improvement in the hotel and restaurant sector as the number of Chinese tourists to Korea increased.

80

Product

2015

2016

trade balance

KORUS FTA in Washington on 4 October. Minister Kim agreed to amend the KORUS FTA in the session. Koreaâ&#x20AC;&#x2122;s proposal of a joint study in advance of the renegotiation was seen as a sign of its opposition to the revision process or an attempt to slowdown the revision process. However, things rapidly changed following news that President Trump was only a step away from formally declaring withdrawal from the KORUS FTA, going as far as writing a letter backing out of the pact. Korea is now citing the legal need, under the International Trade Act, to refer the issue to the National Assembly. The process involves many procedures including an economic assessment and a public hearing, thus the KORUS FTA amendment negotiation is expected start in late 2017 or early 2018 at the earliest. Trade Minister Kim and the US Trade Representative Lighthizer are expected to discuss the next steps of the KORUS FTA amendment in November when President Trump visits Korea.


Saemangeum, The Bright Future of Korea Construction of The Center of Global Economic Cooperation to Gain the World's Attention! Saemangeum, the center of Northeast Asian economies The Saemangeum Project is set to develop the inner side of the 33.9km-long Saemangeum seawall, the world’s longest embankment located along the west coast of the Korean Peninsula, which connects Gunsan-si and Gogunsan Islands in Jeonbuk and the Byeonsan Peninsula in Buan. The project aims to renew an area of 409㎢ (equivalent to 2/3 of the size of Seoul), consisting of 291㎢ of land and 118㎢ of swamp. It will create a new growth engine for the future of Korea, and amass a great deal of land by filling in the sea with soil which is literally similar to producing a substance from nothing. The process of gradually revealing land on the map is truly amazing. The Saemangeum Project began as a construction project for a ‘food production base’ in 1991, but it has now changed to a project for establishing

the center of Northeast Asian economies through the development of multi-functional land for industrial research, tourism & leisure, international cooperation, environmental ecology, cities, and farmland. As Saemangeum will be developed as multi-functional land, it is expected to become the center of global economic cooperation by integrating the advantages of various industries. The strength of the Saemangeum Project is its designation as a special economic zone supported by the central government; thus, the project will be swiftly developed and receive customized assistance from the government. Major infrastructure such as a harbor, airport, Dongseo roads, Nambuk roads and the Saemangeum-Jeonju expressway will be built with government expenditure, and the project is expected to proceed smoothly.

BCCK FOCUS 31


MARKET FOCUS “Saemangeum has a great potential to become the hub of the Northeast Asian economy, particularly the center of economic cooperation with China… I will change the project to a national reclamation project if it is necessary to speed up the project.” Consequently, Saemangeum is expected to become an economic hub in the Pan-Yellow Sea Rim at a faster pace.

The basic direction of Saemangeum land use is classified into six zones such as industrial research, tourism & leisure, international cooperation, bio & farming, and cities depending on the function and characteristics in order to actively respond to investors’ requirements in a customized way. The area of each major use such as residence, commercial, industry and tourism is suggested in a minimum or maximum range to increase the flexibility of land use. Jump-starting the development of Saemangeum Saemangeum is evaluated as Korea’s growth engine that will lead the Korean economy for 30 years into the future, but its development has been slowed. Due to conflicts and discord with environmental groups, religious circles and local residents, the operation of the project went through difficulties and the completion of landfill and infrastructure construction remains around 36% at the moment. However, the new government administration has chosen Saemangeum as its first national project and revealed its strong will to complete the Saemangeum Project, so the development of Saemangeum is expected to accelerate. On May 31, while visiting the development site of Saemangeum, President Moon Jae-in stated:

32 British Chamber of Commerce in Korea

In particular, the Saemangeum project is included as one of the 100 major national projects announced by the new government. By clearly specifying the early construction of logistics transportation networks, such as an international airport and a new port, as well as government-led land reclamation, for the speedy operation of the Saemangeum Project, the government is aiming to achieve balanced national development across the nation through the successful execution of the Saemangeum development. In addition, the government has decided to provide unprecedented incentives in order to revitalize business investments in Saemangeum. Currently, the land of Saemangeum can be rented for a maximum of 100 years, and corporation; income taxes can be exempted 100% for a maximum of 5 years and 50% for the following two years, depending on the amount of investment. In particular, the special lease for 100 years is available to foreign-invested companies and local businesses, all of which contribute to revitalizing the local economy and creating jobs. The Saemangeum Project will be developed in the 1st phase by 2020 and the 2nd phase from 2021. The 1st phase is to a foundation for private participation by constructing industrial land and infrastructure such as a new port through the construction of economic zones; the 2nd phase plans to revitalize internal development by promoting private investments in various forms and by inducing global businesses.


Owing to the change of the Saemangeum Project as a government-led project, the 36%-completed reclamation will be completed by 2020 as planned. In addition, if the construction of infrastructure such as roads is completed as planned, it will contribute greatly to revitalizing the local economy as well. The Director of the Saemangeum Development and Investment Agency, Mr. Lee Cheol Woo stated, “We can actively induce businesses to Saemangeum and both domestic and foreign investments in Saemangeum when we can secure land through the Saemangeum reclamation,” and added, “If the government takes part in the construction of basic infrastructure, such as the reclamation project, at a faster pace, Saemangeum will be established as a hub in Northeast Asia faster.” Saemangeum, the center of global economic cooperation The Korean government plans to establish Saemangeum as the core hub for free trade and production/processing/exports of intermediate goods in Northeast Asia by way of the Korea-China Free Trade Agreement (FTA), the expansion of Hallyu, and large areas of land. To achieve this goal, the government plans to make Saemangeum as the base of free trade and investment by removing barriers in the activity of investment businesses and residence, as well as by removing social and cultural discrimination. One instance of differentiated competitiveness of the Saemangeum Industrial Complex is that it is Korea’s only Korea-China FTA Industrial Complex. Saemangeum is the most attractive place for Korean businesses which have a desire to advance into the Chinese market, as well as for Chinese businesses which want to cultivate new markets in the USA or the European Union (EU). When overseas businesses make an investment decision, they tend to consider the geographical advantage of Saemangeum, as well as the Korea-

China Free Trade Agreement (FTA). It is because, owing to the Korea-China FTA, the current 6.5% tariff will be lowered by 1.3% each year and the tariff will be completely removed by 2019. If businesses export products from Saemangeum which is located very close to China, they can also save logistical costs. The Saemangeum New Port which is under construction is the closest port to China. The distance to Lianyungang Port in China is only 58㎞ which is much shorter compared to other ports in Korea, such as Busan Port (906㎢) or Gwangyang Port (767㎢). By plane, it only takes 40 minutes to reach the Shandong Peninsula.

Currently, the Gun-san National Industrial Complex, the Automobile & Mechanical Component Cluster and the Korea National Food Cluster have been formed around Saemangeum, and the center of the large West-coast Tourism Belt which connects the axis of the Korean Peninsula is located in Saemangeum. In addition, optimal logistics facilities such as the crisscross network of land routes running in all directions, the new port and Gunsan Port are located in Saemangeum, and the infrastructure of express railroads and international port are being constructed around Saemangeum. Based on such excellent location and infrastructure, global businesses such as Japan’s Toray Advanced Materials and Belgium’s Solvay, as well as Korean businesses including OCI and OCISE, have already moved in Saemangeum or are investing in Saemangeum. Material provided by the Saemangeum Development and Investment Agency, www.saemangeum.go.kr

BCCK FOCUS 33


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LEGAL FOCUS

Korea Gearing Up for Electric Vehicles

Byeong-ok Song Yoon & Lee International Patent & Law Firm

I. Introduction Electric vehicles (EVs) are one of the hottest technologies in global markets and can be defined as vehicles that use one or more electric motors or traction motors for propulsion. An electric vehicle may be self-contained with a battery, solar panels, or a generator for converting fuel to electricity.

pollutants. Government incentives to increase the adoption of EVs have been introduced, including in the US and the EU, and the replacement of gasoline cars by EVs is now gathering momentum. In Korea, the number of registered EVs was 15,745 as of June 2017, while the global sales volume of EVs is expected to reach 6.6 million annual units by 2020, which amounts to almost 7% of the global sales market for all vehicles, according to a report by Clean Technica and as illustrated in Chart 1.1. Chart 1.1 Annual Light Duty Electric Vehicle Sales by Drivetrain, World Markets: 2013-2020 7,000,000

EVs first came into existence in the mid-19th century, but the internal combustion engine has been the dominant propulsion method for motor vehicles for almost 100 years. Although electric power remained commonplace in other vehicle types, such as trains and smaller vehicles, it is only in the 21st century that EVs have seen a resurgence because of technological developments and an increased focus on renewable energy without environmental

BEV

PHEV

HEV

6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 -

2013

2014

2015

2016

2017

2018

2019

2020

(Source: Navigant Research)

BCCK FOCUS 35


LEGAL FOCUS II. K  orean Governmentâ&#x20AC;&#x2122;s Basic Plans and Polices relating to EVs & Major Barriers and Solutions regarding EV market growth The Korean government has established three basic plans and policies including investment of around USD 15 billion to 1) develop EVs, 2) lower the prices of batteries for EVs to 80% of the current prices, and 3) extend the life time of batteries for EVs to 20 years, by 2020. Further, the Korean government has also established policies to raise the sales volume of EVs to reach 20% (200,000 EVs) of the total sales volume of all cars (estimated to be 1 million vehicles) by 2020, to ensure that the average price of an EV is around a maximum of USD 20,000, to provide subsidies of USD 5,000 for installing fast chargers, and to provide the consumers of EVs with strong incentives, such as tax exemptions or deductions, monetary support amounting to USD 15,000 when buying EVs from the central government and USD 3,000-5,000 from local government bodies, and a 50% reduction of parking fees for using public parking lots. However, customers eager to buy EVs in Korea still face significant barriers, including the major three barriers as follows: 1. T he first major barrier against EV market growth is battery efficiency. However, battery efficiency has been rapidly improved recently. For example, the â&#x20AC;&#x153;Bolt EVâ&#x20AC;? released as of April 2017 by GM Korea accomplishes a mileage of 240 miles (383 Km) with onetime charging, while the S 90D Model of Tesla imported from March 2017 accomplishes a mileage of 236 miles (378 Km) with onetime charging. Therefore, battery efficiency is rapidly disappearing as an issue for customers wanting to buy EVs. 2. The second, and more important, major barrier against EV market growth is battery charging time. However, the charging time of batteries for EVs has gradually decreased with the super charger of Tesla taking only about 2 hours for full charging at the current stage. The Korean government has set up a plan to reduce the

36 British Chamber of Commerce in Korea

charging time of EVs to 5 minutes by 2020. If this is achieved, battery charging time may soon have little effect on customer-decision making for buying EVs. 3. T he third, and perhaps most impor tant, major barrier against EV market growth is provision of suf f icient char gin g infrastructure, such as a nationwide charging station system. In this regard, the Korean government announced plans to install about another new 1,860 fast chargers, which will provide 2,610 in total throughout Korea, as well as to install a total of 20,273 slow chargers at housing complexes and working places (green companies, etc.) by the end of 2017. If this comes true, Korea will surpass even Japan and have the highest level of EV charging infrastructure in the world. Despite the announcement by the Korean government that it will act to increase the number of fast chargers, EV drivers will still find it difficult to access battery charging stations when out driving their EVs. One solution proposed as an alternative for overcoming the lack of battery charging stations is to introduce a portable supplementary battery for EVs. Another solution is to find alternative charging technologies, and research and development in this area is proceeding actively. For example, new methods of charging EVs without using charging stations are being introduced, such as a technology for charging a moving EV by connecting and using a drone, a patent application of which has been already made public. Although the alternative new methods for charging EVs have not been commercialized yet, they may be commercialized in the near future.


III. Intellectual Property Rights regarding EVs in Korea With the bright prospects for the EV market in Korea, many car companies participating in this field are making great efforts to procure intellectual property (IP) rights in Korea regarding EVs, including patents & utility models, designs, and trademarks, to protect their products. More specifically, regarding patents and utility models, the number of registered patents relating to EVs in Korea to date is 1,224, and the number of registered patents relating to batteries for EVs in Korea is 190. Especially, Korean companies that manufacture batteries for EVs, such as LG Chem, Samsung SDI, and SK Innovation, have each established strong patent portfolios. To be specific, during the period 2015-2016 in the US market, the batteries manufactured by LG Chem, Samsung SDI, and SK Innovation were mounted on numerous EV models, such as Chevrolet BOLT, Chevrolet Spark EV, BMW i3, Fiat 500e, Ford Focus EV, Kia Soul EV, SMART ED, Cadillac ELR, Porsche Cayenne S-E, BMW X5 xDrive40e, Hyundai Sonata PHEV, and Volvo XC90. For designs, the number of registered design patents relating to EVs in Korea to date is 179. The

main design patentees regarding EVs are domestic companies rather than foreign companies. For trademarks, the number of trademark applications that designate the goods as hybrid cars and EVs rapidly increased during the past five years from 45 in 2012 to 148 in 2016 and totaled 296 in the period (based on Korea Intellectual Property Office statistics). Among the applicants, the top three are all Korean companies, namely Hyundai Motor (60 filings), GM Korea (12 filings), and Maritime Strategy Partners (11 filings). Also, out of the top 12 applicants, Nissan Motor Co., Ltd., which ranked joint top five, is the only foreign company. Furthermore, among the registered trademark owners, the top five are all Korean companies: Hyundai Motor (64 registered trademarks), Kia Motors (18 registered trademarks), Maritime Strategy Partners (11 registered trademarks), Lotte Shopping (10 registered trademarks), and Korea Hitek. From the above, it can be recognized that filings and registrations of intellectual properties (patents & utility models, designs, and trademarks) relating to EVs have increased tremendously in Korea. IV. Conclusion Considering the trend of EVs in Korea as discussed above, there seems to be no doubt that EVs are becoming mainstream in the Korean car market, and the domestic EV market size is forecast to grow explosively. Although the exact timing of the take-off of the EV market in Korea is difficult to predict, it is clear that it will be sooner, rather than later. It is just a matter of time. Thus, it is very important that any companies interested in manufacturing EVs and EV parts manufacturers focus on the procurement of intellectual properties in Korea in order to compete with their competitors as well as to become a leader in the Korean EV market.

BCCK FOCUS 37


LIFESTYLE FOCUS

English-language Media in South Korea AngloINFO South Korea

Information on local and international English-language print and broadcast media available in South Korea... English Radio There are several English radio stations that serve South Korea. Most stations play various forms of Korean pop (k-pop) and rock music. For a wider variety, listening to online radio is the best option. •T  BS e-FM 101.3: radio station broadcasting news about South Korea in English. The Talk-radio programming in English covers sports, events, history, entertainment and the economy

38 British Chamber of Commerce in Korea

• Jeju Arirang Radio: English radio station in Jeju and Seoguipo • B usan e-FM 90.5: music and talk radio station featuring current affairs, business and finance, lifestyle, sport and entertainment programmes and on-air live musical performances •G  wangju e-FM - 98.7FM: broadcasting music and news in English, as well as Korean lifestyle and information for tourists


•K  BS World Radio: broadcasting Korean and international news, sport and weather, as well as music, interviews and cultural information in 11 languages •A  FN Korea: American Forces network

Radio on the Internet: English-language stations online Radio stations often stream their broadcasts on the Internet. In order to listen to their programmes it is necessary to have RealPlayer or Windows Media Player, both of which can be downloaded. • For a full list of online stations throughout the world, see Radio Locator • To see a list of the many stations available, see Mike's Radio World, Live 365, Streema Online Radio Stations and Broadcast Live •B  BC Radio - To reach links to any of the BBC Radio stations: Click here • Voice of America's NewsNow • CNN • ABC News • CBC Radio (Canada) • RTE (Republic of Ireland) • Yahoo Music

Television Throughout South Korea, English-language television is available via satellite/cable providers. • For a list of what is on television across South Korea: Click here There are also a number of commercial channels broadcasting nationally. Most programmes are in Korean, although some foreign movies, dramas and documentaries are broadcast in English with Korean subtitles.

English Language Print Media There are several English-language newspapers widely distributed throughout South Korea. International magazine titles and local specialist publications are also available. Most major publications are available online as well as in print. For a more portable digital version, apps like the Mail Plus App from the UK's Daily Mail Group allow the latest news to be read on a phone or tablet, often for a much less than the cost of a subscription.

Newspapers The following English-language newspapers are available in South Korea: • The Korea Times: A daily newspaper with comprehensive coverage of news, business, sport, culture and lifestyle. Also reports on international news • T he Korea Herald: A daily newspaper covering business, sport, lifestyle and general news • Korea JoongAng Daily: A daily newspaper with in- depth coverage of local and international news, entertainment, business, lifestyle, sport and travel

BCCK FOCUS 39


LIFESTYLE FOCUS

Magazines There is a wide variety of English-language magazines published for expatriates in South Korea. Specialist magazines printed in limited runs (and usually distributed free) are available at various outlets. • 10Mag: A monthly magazine published in Seoul and available from hotels and tourist spots and online • Groove Korea Magazine: A monthly, glossy magazine for expatriates with information on upcoming events, as well as feature articles about living and working in South Korea • S eoul Selection: A monthly magazine in English with articles on business, politics and lifestyle, as well as reviews, classified advertisements and guides to Seoul • Eloquence: A monthly art magazine • B usan Haps: A magazine for Englishspeakers in Busan • Koreana Magazine: A quarterly magazine including art and culture sections

40 British Chamber of Commerce in Korea

Korean online news in English

• The Seoul Times • Business Korea • Korea Focus • Korea Post • The Jeju Weekly • Dynamic Busan

International News Links Angloinfo delivers an extensive English-language news service, drawn from sources around the world. • Visit the Angloinfo Newsroom

International online news

• Mail Plus App • BBC News • CNN News • Worldpress


MEMBER FOCUS | MEMBER STORIES

MEMBER STORY 01

Dulwich College hosts adventurer Erden Eruç, the first person to circumnavigate the Earth entirely by human power

As part of its annual Shackleton Lecture Series, Dulwich College Seoul welcomed Turkish adventurer Erden Eruç, who spoke on his incredible journey as the first person to complete a solo human-powered circumnavigation of the Earth. His journey lasted from 2007 to 2012 and his route covered 66,299km with modes of transportation including a rowboat to cross the oceans, a sea kayak for shorelines, a bicycle for roads and hiking on trials, along with canoes for river crossings. He also climbed Mount Kosciuszko and Mount Kilimanjaro and holds an amazing 15 Guinness World Records. The Shackleton Lecture Series commemorates Dulwich College graduate and renowned explorer Ernest Shackleton, who led three heroic expeditions to the Antarctic in the early 20th Century, and focuses on a theme which highlights the spirit of adventure.

42 British Chamber of Commerce in Korea

“The Shackleton Lectures feature leading explorers and aim to teach our students about grit and determination and the courage to uncover a sense of adventure in everyday life,” said Graeme Salt, Headmaster of Dulwich College Seoul. “Mr. Eruç’s endeavors are inspirational and he makes a fantastic role model for all our students.” For last year’s Shackleton Lecture Series, Dulwich College Seoul hosted international aviator Tracey Curtis-Taylor, who spent an entire day recounting to enthralled students her experience of flying a 1930s biplane 18,000km from England to Australia, emulating Amy Johnson, who made the trip, quite miraculously, flying solo more than 85 years ago.


MEMBER STORY 02

Denby Korea: ‘Studio Craft’ collection for casual

dining and new-fashioned entertainment launched

Inspired by the autumnal atmosphere of the season, Denby have launched a new product line called ‘Studio Craft’ which carries the features of Autumn: strikingly blue autumn skies, the sound of leaves rustling and the rich aroma of coffee. Studio Craft’s features are drawn from Denby’s understanding of its consumers, particularly Korean consumers, who value seasonality when setting their tables. Studio Craft is the epitome of Denby’s artisan, hand-crafting skills and stunning textural glazes, re-invented for a moden audience. Inspired by the trend for having honest, authentic aesthtic in the home and kitchen - the ‘New Rustic’ - Studio Craft combines four tonal glazes in rich, wood-inspired hues on earthy, informal shapes, to create a natural look which works brialliantly with Korean food, for mid-week dining and relaxed entertaining with friends. Made in England, the range works as both a full set or is ideal for adding to existing ranges to

update and refresh them. Denby’s expertise is in creating spectacular glaze reactions in the kiln that makes each piece totally unique.

Denby have generations of hard-won experience using local iron-rich clay and unique glaze recipes to create beautiful, durable tableware. The Denby approach has always been focused on alluring and practical tableware designed for life: ranges which can be confidently used in the oven, dishwasher, microwave and freezer, day in day out. Would you like to experience Studio Craft? Why don’t you visit our meeting points at department stores across the nation. For more details, visit www.denby. co.kr

BCCK FOCUS 43


MEMBER FOCUS | MEMBER STORIES MEMBER STORY 03

Kelly Services Officially Support the 2018 PyeongChang Winter Olympic Games

be provided with a career transition program by Kelly Services by the end of March next year.

Kell y S er v ic e s Ko re a si g n s a g re em ent to provide training and career transition services for PyeongChang Winter Olympic Committee professional employees. A global workforce solution company, Kelly Services, Ltd (Korea) has signed an official sponsorship agreement with the 2018 PyeongChang Winter Olympic Committee in the Recruitment Services sector. On July 6th, Yamazaki Takayuki, Asia Pacific CEO of Kelly Services, Ltd, and Hee Beom Lee, President & CEO of the PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games (POCOG) signed a Recruitment Service Sponsorship Agreement. Through this agreement, Kelly Services will serve as an official sponsor of the 2018 PyeongChang Winter Olympic Games, and will provide training and career transition services for Olympic Committee professional employees. The POCOG employees will

44 British Chamber of Commerce in Korea

H e e B e o m L e e , P r e s i d e n t & C EO o f t h e PyeongChang Organizing Committee, explained "In the POCOG, half of the staff are from the public sector, and the other half transferred from a career in private corporates and both are devoting their life’s experience to our national games. Providing career opportunities for each of these professionals after the games is one of the biggest concerns of the IOC and the Olympic committees. I expect to achieve successful career transition rates through Kelly Services’ program." Yamazaki Takayuki, Asia Pacific CEO of Kelly Services noted, “Kelly Services is a leader in human resources services. We provide the best service for human resources-related services. We served the 2010 Vancouver Olympics, the 2012 London Olympics, and the 2014 Sochi Winter Olympics, and it is our honor to serve the 2018 PyeongChang Olympics. Through this sponsorship agreement, we will globally support career transitions for the Olympic committees’ workforce. Kelly Services, Ltd founded in 1946 in the United States, currently has 160 offices in 34 countries around the world, including the Americas, Europe and Asia Pacific. Established in 2008, Kelly Services (Korea) is a fast-growing company which provides headquartering, outsourcing, human resources consulting and training solutions.


MEMBER FOCUS | MEMBER CSR ACTIVITIES

MEMBER CSR ACTIVITY 01

Pernod Ricard Korea’s Marine Environment Preservation

Pernod Ricard’s Firm Belief in Marine Environment Preservation Protecting our ocean is the backbone in preserving the Earth’s environment. There is a company which has been dedicated in preserving marine environment under its founder’s firm faith. The company is Pernod Ricard, originated in France, but a global Spirits and Wine company. Since Pernod Ricard was founded in the part city of Marseille which is called as “Busan” of France, the founder of Pernod Ricard group “Paul RICARD” had a firm belief in preserving the marine environment. Based on its founder’s philosophy, Pernod Ricard group has been undertaking multiple activities in preserving the marine environment.

A Valuable Relationship Bounded Across the Border Pernod Ricard Korea and Korea Maritime and Ocean University’s valuable relationship began in 2013 when both organization signed the “Social contribution agreement for building and preserving a healthy marine environment in Busan region”. Ever since, Pernod Ricard Korea’s representative whisky “IMPERIAL” brand and Korea Maritime and Ocean University, has been striving to maintain a clean Busan ocean with local citizens. Every summer, Korea Maritime and Ocean University Office of University-Industry Cooperation, students, officials from related organizations, volunteers from local citizens and professional divers have participated

BCCK FOCUS 45


MEMBER FOCUS | MEMBER CSR ACTIVITIES

in ocean purifying activities to preserve the marine ecosystem.

results of last year, the ocean purification campaign was continued in Busan and Jeju regions.

In July 2016, Pernod Ricard organized “IOPR-KMOU Sisterhood agreement” for cultivating marine studies and scientists with Korea Maritime and Ocean University (KMOU) at the Institut Oceanographique Paul Ricard (IOPR), located in the island of Les Embiez in southern France. This agreement received positive assessment with the expectation that it will inform the importance of marine environment to the public in both countries.

This year’s “We Save Together” campaign was collaborated with the “4 Buddies”, a brand Webtoon that was launched by Pernod Ricard Korea’s brand “IMPERIAL” on Daum portal site. Interestingly, a new concept of social funding was performed in raising funds for the current campaign. When the viewers of this Webtoon pressed the ‘Like’ button or visit the “IMPERIAL Facebook Page” and “Like” or leave a “Comment” in the campaign board messages, each of these actions collected funds that were added into the total donation for the ocean purification event.

Furthermore, this initiative is expected to be dedicated in technical and academic improvement of preserving ocean environment, which is core to protecting the Earth’s environment. A Happy Wave of Donation “We Save Together” Since 2016, “We Save Together”, an ocean purification campaign by the company’s IMPERIAL to preserve the marine environment that coexists with the local Communities, has been initiated in Busan and Jeju region. The “We Save Together” campaign was focused in these two regions as they are the representative coastal areas where the ocean is closely connected with the local economy. Thanks to the successful

46 British Chamber of Commerce in Korea

This year’s first campaign was held at Hamdeok beach in Jeju. It was a more meaningful campaign, as all of Pernod Ricard Korea’s employees, related officials of Korea Maritime and Ocean University and volunteers participated in the current ocean purification activity altogether. Furthermore, although recruitment for campaign participants was also done through the “IMPERIAL Facebook Page”, many local volunteers actively participated by signing up at the campaign site, which made this current event to more worthwhile.


MEMBER CSR ACTIVITY 02

GSK Korea Employee Selected for Renowned Global Volunteering Programme

GSK Korea has successfully had an employee selected as an entrant into “PULSE”, the renowned global volunteering programme run by GSK. It has been five years since PULSE selected a Korean national for the programme, with the first Korean selected as the first Asian participant in 2012. The person selected is Ms. So-ra Park, an Assistant Manager from the Medical Clinical Research team. Her mission will be to execute educational activities, in collaboration with Save the Children, to provide support to local healthcare workers in Bonggoma, Kenya. Ms. Park will volunteer for a six-month period and began doing so in September 2017.

Meanwhile, GSK Korea also held a CSR event, called “PULSE Sweet Box”, which helped to gather donations of snacks and stationery items for local children in Kenya. All the gifts collected by the Korean employees will be delivered to the children during So-ra’s PULSE mission.

MEMBER CSR ACTIVITY 03

SCBK: A beautiful journey with the visually impaired! The Third Marathon with Visually Impaired Runners in Korea

On Saturday, 2 September, 230 staf f volunteers of Standard Char tered Bank Korea participated in the third marathon event with the visually impaired at the Event Plaza of Han River Park in Yeouido, Seoul, Korea. They ran with visually impaired runners, holding their hands, and also raised awareness about visual impairments. The staff volunteers prepared for a campaign to raise awareness about visual impairments, wearing a T-shirt featuring visual impairments and decorating ballons to promote the Bank. They learned etiquette towards visually impaired people in the Photo Zone near the promotion booth and had their photo taken. Other staffs who volunteered to

help organise the event guided participants around the place and supported the event. When the best of the best of this event had begun – a marathon race, staff volunteers paired up with a visually impaired runner with their hands tied together. As a guide runner, they helped the visually impaired runners complete the marathon race safely. Some of them ran with a placard featuring etiquette towards visual impairment to attract public attention. 230 staff volunteers successfully ended the campaign to raise awareness about visual imparements and all of the participants had a healthy and meaningful day in a marathon event with visually impaired runners.

BCCK FOCUS 47


Top Reasons to Join the BCCK ADVOCACY In the post-Brexit era, we are a key voice for British business and our members in Korea. We have a professional team to discuss about the direction of business in this changing situation and work closely with the Korean and British

governments, along with the British Embassy Seoul. Just this year, we held a members-only breakfast workshop event with Mr. John Alty, a key representative in discussions between the UK and Korea over a possible new trade deal.

ADVERTISING AND SPONSORSHIP BCCK members can maximize their company exposure through our online and of fline advertising platforms. We distribute an annual member directory, a quarterly webzine, and are active on Facebook, Linkedin, Twitter, and Instagram. Our annual membership

directory is distributed offline to all our member companies. Members can also take advantage of sponsorship opportunities at our events, including providing products to raffle at our events or having company logos on our event flyers and banners.

NETWORKING The BCCK hosts the largest and trendiest net working events for the international community in Korea. Our diverse membership â&#x20AC;&#x201C; 25% of our membership is Korean - and business network stretching from Korea to the UK ensures that you will be meeting new and interesting people at our events. We also host

a busy calendar of content-driven forums and workshops for our members on topics that are relevant to business leaders in Korea. We host special breakfasts featuring interesting speakers from the UK such as the Lord Mayor of the City of London or the head of the British Council.

BUSINESS OPPORTUNITIES We are a hub for British business in Korea. The BCCK has an active trade and investment services team that helps UK brands to find opportunity in Korea and, increasingly, Korean brands to enter the UK market. Already we have helped brands such as SuperGroup and Linguaphone identify partners and better understand the Korean market. We are also

JOIN NOW!

increasingly helping Korean companies enter the UK market utilizing our strong network in the UK. Our position as a hub for inbound and outbound market-entry enquiries makes us uniquely positioned to connect and promote business between our members both in Korea and the UK.


New Members List (Autumn 2017) New Platinum Member

New Corporate Members CHUBB SCABAL

The Booth Unipart Logistics

New Overseas Corporate Members Evolution Brands Fever-Tree

FunctionEight Ltd. MODS Luggage Ltd.

Ozlana Australia Ltd. Particle Analytics

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MEMBER FOCUS | MEMBER OFFERS

Member Offers

Special offers are periodically provided to BCCK members!

RDI Worldwide: 25% discount on one-day HR workshops RDI Worldwide works with Korean and international organisations to support professional development and management training. RDI Worldwide is offering BCCK members a 25% discount on their flagship management training programmes. This offer applies to: Lego Serious Play, an innovative way to develop team dynamics and promote effective management; Situational Leadership: a globally recognised methodology from Ken Blanchard; Performance Coaching (individuals or in groups); and Cross-Cultural Management, for better working in multinational companies. BCCK members who book a workshop with RDI (up to 30 people) are able to receive 25% off the facilication fee. Only BCCK members are eligible to receive this discount! Click here to access the discount!

British Airways: 10% discount off tickets to UK and Europe British Airways, the UK’s leading airline, is offering BCCK members an exclusive 10% off all flights to the UK and Europe. The discount also applies to online-only exclusive deals through BA. Only BCCK members are eligible to receive this discount! Click here to access the discount!

Park Hyatt Busan: 10% discount on daily base rate Park Hyatt Busan is a luxurious, intimate, and residential-style hotel located in the heart of Busan, Korea’s largest port city. Park Hyatt Busan is offering BCCK members with a 10% discount based on a daily basis rate. *Black out dates: 7/30 – 8/6, 8/13 – 14, 10/1 - 02 & 22, 11/17 – 19, 12/24 & 31 Only BCCK members are eligible to receive this discount! Click here to access the discount!

50 British Chamber of Commerce in Korea


British Council: 15% discount on myClass English courses The British Council is a world leader in English language teaching. The organisation operates two adult centres at Euljiro and Gangnam and offers customised English courses that will meet the specific English skills needs of any organisation. The British council is offering BCCK members a 15% maximum discount on a myClass English course. Only BCCK members are eligible to receive this discount! Click here to access the discount!

Dearment: 10% discount on all fresh flower products over 50,000 KRW Dearment is a Seoul based florist which offers a variety of flower products including dry flowers, flower baskets and flower vases, as well as services such as the provision of wedding bouquets, flower subscriptions and flower deliveries. Dearment is offering BCCK members a 10% discount on all purchases of fresh flower products over 50,000 KRW. Only BCCK members are eligible to receive this discount! Click here to access the discount!

Truefitt & Hill: 10% discount on all services and products Truefitt & Hill is a British premium male grooming shop with a 211-year history located in central Seoul. Truefitt & Hill is offering BCCK members a 10% discount on all services and products. Only BCCK members are eligible to receive this discount! Click here to access the discount!

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SPECIAL FOCUS: ‘UK/KOREA 2017–18 CREATIVE FUTURES’

UK/Korea 2017–18 Creative Futures Director's Note Five ways to re-imagine the city: introducing Connected City and Busan–Sheffield: Inter-city Arts Project Cities all around the world make great efforts to create a liveable city and pursue sustainable economic growth. The city of Seoul is not an exception. Behind the rapid change in Seoul for the past seven decades after the liberation in 1945, the development of Seoul centred on economic growth and is facing many problems in social, cultural

52 British Chamber of Commerce in Korea

and political areas such as social inequality, urban homogenisation, lack of diversity and integrity. Seoul, a city of continuous and sustainable growth has shifted its focus from 'growth and development' to 'sharing, sustainability and intercommunity'. With the key words of city, arts, technology, architecture, urban regeneration and creative collaboration in the city project, UK/Korea 2017–18 is pleased to share diverse programmes in Autumn in Seoul and Busan. The rapid changes of the city


SPECIAL FOCUS: ‘UK/KOREA 2017–18 CREATIVE FUTURES’ through architecture, environment, economic structure and community have brought enormous changes to the daily lives of humans who live in the city. The city project questions what the role of arts and technology will be and how the arts should integrate with the ever-changing city.

and artworks will be created in Youngdo, Busan and Sheffield in the UK.

Connected City in Seoul will introduce innovative practices on ever-changing societies and public spaces in the city through various art forms and digital technology.

Connected City and Busan–Sheffield: Inter-city Arts Project are willing to revitalise present and future cities and to engage communities in the city. They aim to provide different experiences for audiences to re-shape, re-explore, re-imagine and re-connect the city we live in. We would like to invite you all to join us on this journey allowing you to re-imagine your city in fresh and different ways.

Its programme includes Musicity, Playable City, Maker City, Storytelling City, Performing City and the City Conference. Under the theme of urban regeneration, Busan–Sheffield: Inter-city Arts Project aims to revitalise the city through creative public arts programmes and collaborations with artists. Based on the character of the city, site-specific installations

Kyu Choi, Creative Director UK/Korea 2017–18 Creative Futures

Events The Art of Dissonance Discover an exhibition exploring the 'dissonance' of the British society from the 1980s to today. Featuring contemporary UK based artists Wolfgang Tillmans, Grayson Perry and John Akomfrah, among others, The Art of Dissonance is on view at the Seoul Museum of Art until 12 November. Click here for more information

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SPECIAL FOCUS: ‘UK/KOREA 2017–18 CREATIVE FUTURES’

Events UK Young Artists in Korea: The Beginning and Goryeo UK Young Artists (UKYA) has supported hundreds of young and emerging artists in the UK since its establishment in 2008. From October to November, a group exhibition of UKYA and young Korean artists, The Beginning and a solo exhibition of Mathew John Atkinson, Goryeo are on the view at National Assembly Korea, Seojung Art Center and Superior Gallery. Conor Rogers, 'I've got now't', Acrylic on Pound Note, 13.5x6.5cm, 2016 © Opera in Cinema 2017 Season: Madama © UKYA(United Kingdom YoungButterfly Artists)

Click here for more information

Julian Opie Solo Exhibition One of the leading figures in contemporary art, Julian Opie will have his first museum exhibition in Korea from 8 September 2017 to 21 January 2018. Click here for more information

© Julian Opie. Walking in Sadang-dong in the rain. 2014

Connected City

© Rachel Maclean, The Lion and The Unicorn, 2012 (film still) © Musicity

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The Connected City aims to develop a platform to re-shape, re-explore, re-imagine and re-connect the city we live in. With the collaboration with artists, producers, curators and communities from the UK and Korea, Connected City will introduce innovative practices of ever-changing societies and public spaces in the city through various arts forms and digital technology. The programme on Connected City includes Musicity, Playable City, Maker City, Storytelling City, Performing City and the City Conference. Click here for more information


Events UK Focus at Seoul Pride Film Festival 2017 In partnership with Seoul Pride Film Festival, the British Council and BFI Flare will present Flare Films: UK LGBT shorts, 50LGBT and various talk programmes with Brian Robinson, a senior programmer of BFI Flare: London LGBT Film Festival, between 2 and 8 November at CGV Myeongdong Station Cine Library. Click here for more information Crush (UK 2017 8 mins) © Rosie Westhoff

Golem created by 1927 Young British company 1927 will perform Golem from 16 to 19 November at LG Arts Centre. A combination work of animation, live music and performance will bring a fresh impact to Korean audiences. Click here for more information

©Brnhard Mueller

Richard Hamilton: Serial Obsessions Monographic works by one of the most important artists in the 2nd half of 20th century, Richard Hamilton, will be exhibited at the National Museum of Modern and Contemporary Art in Gwacheon from 3 November 2017 to 21 January 2018. Click here for more information ©Swingeing London 67(f). 1968-9, Screen Print on canvas, acrylic and collage, 67x8

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SPECIAL FOCUS: ‘UK/KOREA 2017–18 CREATIVE FUTURES’

Events NUDE: Masterpieces from Tate

©Nude on a Couch / 1915 / Oil paint on canvas / Tate: Bequeathed by Mrs A.F. Kessier 1983

Seoul Olympic Museum of Art (SOMA) presents masterpieces selected from the Tate Collection along the theme of the naked body from the late 19th century to the present time. The exhibition consists of paintings, sculptures, prints, drawings and photographs by Pablo Picasso, Henry Matisse, Auguste Renoir and Edgar De Gas. This will give the audience a great opportunity to see the original piece of sculpture, Kiss by Rodin for the first time in Asia. The exhibition lasts till 25 December 2017. Click here for more information

You Start It! Nam June Paik Art Center will present the first solo exhibition in Korea by the 2016 Nam June Paik Art Center Prize winner Blast Theory. The exhibition, titled You Start It! will feature new and recent works by Blast Theory and will run from 23 November 2017 to 4 March 2018. 2097 We Made Ourselves Over_Blast Theory © Blast Theory

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Click here for more information


Reviews Creative Director’s talk on UK cities Kyu Choi, Creative Director of UK UK/Korea 2017–18’s talk on UK cities delivered on 6 September at Hyundai Card Travel Library is available on our blog. The Head of UK/Korea 2017–18 shared her thoughts on the talk. (Korean version only) Click here for more information © British Council

London Made at Seoul Biennale London Made is a film installation currently on show at the first Seoul Biennale in Korea from 2 September to 5 November. Exploring the work that takes place behind the scenes at the Barbican, the film looks at the challenges facing London's spaces of production. Click here for more information © British Council

Edinburgh Showcase

© Edinburgh Showcase

The British Council has been a long-time partner of Edinburgh Festival and this year the British Council’s biennial Edinburgh Showcase celebrated its 20th anniversary. Yoahen Kim, producer of Doosan Art Center went to see the lively scene of the Edinburgh showcase. His review tells you the story of his experience of the very best of contemporary theatre and dance, in the centre of the breadth and diversity of British performing arts. (Korean version only) Click here for more information

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ADVERTISE IN OUR NEXT ISSUE! Reserve Your Space Now for FOCUS Winter 2017! The BCCK will be launching its next issue of FOCUS at the end of December 2017! The webzine will feature articles about living, working and doing business in Korea and offers a great opportunity for you to raise your company’s visibility through our 3,500+ contact database from the British, Korean and international business communities. Secure your space for the Winter 2017 issue to advertise your services or products to the BCCK’s extensive network. The webzine will also be available through our website and other online platforms.

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BCCK Webzine ‘FOCUS’

Advertisement Rates Advertising Space Location

Member Price

Non-Member Price

A. Inside Front Cover

500,000 KRW

700,000 KRW

B. Opposite Inside Front Cover

400,000 KRW

600,000 KRW

C. Single Page (First Section)

300,000 KRW

500,000 KRW

D. Single Page (Second Section)

250,000 KRW

450,000 KRW

E. Single Page (Third Section)

200,000 KRW

400,000 KRW

F. Opposite Inside Back Cover

250,000 KRW

450,000 KRW

G. Inside Back Cover

300,000 KRW

500,000 KRW

H. Back Cover

350,000 KRW

550,000 KRW

I. Advertorial (one page)

400,000 KRW

600,000 KRW

*Please note that all prices are subject to 10% V.A.T. **Advertising spaces are limited. Advertisers will be given spaces on a first come, first served basis

Contact Marketing & Communications Coordinator Mijung Lee

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(+82) 2-6365-2307

mijung.lee@bcck.or.kr

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BCCK FOCUS Autumn 2017  
BCCK FOCUS Autumn 2017  

FOCUS is a quarterly magazine published by the British Chamber of Commerce in Korea. This issue features an interview with Jeremy Vallance,...